Natural Gas News – November 5, 2020
Natural Gas News – November 5, 2020
TECO announces January rate hikes due to increasing natural gas prices
Pointing primarily to higher costs of natural gas for power plants, Tampa Electric Co. (TECO) said Tuesday that customer bills will increase in January. The announcement came after the Florida Public Service Commission approved a series of projected costs for the utility, including the costs of fuel. A residential customer who uses 1,000 kilowatt hours of electricity a month will pay $105.25 starting in January, an increase of $7.56 a month from current bills, according to the company. Utilities use 1,000 kilowatt hours a month as a common benchmark, though actual customer electricity usage varies. Commercial and industrial customers, whose bills are calculated differently than residential bills, will see increases of between 7% and 11%. For more on this story visit fox13news.com or click https://bit.ly/3k1s9DG
Natural Gas Market: The Weather Has Gone From ‘Abnormally Cold’ To ‘Abnormally Warm’
Last week (ending October 30), the number of heating degree days (HDDs) has more than doubled w-o-w (from 51 to 105). However, we estimate that total “energy demand” (as measured in total degree days, or TDDs) was only 3.8% above last year’s level, but as much as 30.5% above the 30-year average. This week (ending November 6), the weather conditions are warming up substantially in the contiguous United States. We estimate that the number of nationwide HDDs will drop by 25% w-o-w (from 105 to 79). Total average daily consumption of natural gas (in the contiguous United States) should be somewhere between 76 bcf/d and 78 bcf/d. For more on this story visit seekingalpha.com or https://bit.ly/32bxgeH
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